BWS Financial Reaffirms “Buy” Rating for Garrett Motion (NASDAQ:GTX)

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating restated by BWS Financial in a report released on Thursday, Benzinga reports. They presently have a $42.00 price objective on the stock. BWS Financial’s price target indicates a potential upside of 64.24% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Garrett Motion from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. lowered their price objective on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $38.20.

Garrett Motion Stock Performance

GTX stock traded down $0.30 during midday trading on Thursday, hitting $25.57. 892,613 shares of the stock were exchanged, compared to its average volume of 2,606,941. The stock’s 50-day moving average price is $27.49 and its 200-day moving average price is $27.77. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 0.83. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. Research analysts anticipate that Garrett Motion will post 1.92 EPS for the current year.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the sale, the senior vice president owned 113,783 shares of the company’s stock, valued at approximately $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Garrett Motion during the second quarter valued at about $461,794,000. Arrowstreet Capital Limited Partnership grew its position in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after acquiring an additional 3,241,952 shares during the period. Dimensional Fund Advisors LP grew its position in Garrett Motion by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company’s stock valued at $63,677,000 after acquiring an additional 237,508 shares during the period. William Blair Investment Management LLC purchased a new stake in Garrett Motion during the second quarter valued at about $117,127,000. Finally, Apis Capital Advisors LLC grew its position in Garrett Motion by 1,492.9% during the fourth quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock valued at $38,869,000 after acquiring an additional 2,090,000 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.